Digestive and Intestinal Remedies Market Expected to Reach $26.24 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Digestive and Intestinal Remedies Market," The digestive and intestinal remedies market size was valued at $18.25 billion in 2021, and is estimated to reach $26.24 billion by 2031, growing at a CAGR of 3.6% from 2022 to 2031. 

Gastrointestinal (GI) diseases are among the most common digestive problems that commonly manifest as diarrhea, abdominal pain, abdominal distention, gastrointestinal bleeding, intestinal obstruction, malabsorption, or malnutrition. Moreover, infectious diarrheal diseases are an important cause of morbidity and mortality in childhood. These symptoms of GI disease can be treated by use of over-the-counter medicines that include antacids, proton pump inhibitors, histamine blockers, and similar products. These medicines are readily available at pharmacy stores in localities or on online commerce platforms.

The global digestive and intestinal remedies market forecast is anticipated to show significant growth during the forecast period, owing to increase in gastrointestinal disorders, changes in natural food habits, and high demand for related over-the-counter products. Furthermore, increase in prevalence of digestive diseases such as inflammatory bowel disease, constipation, irritable bowel syndrome, and gastroesophageal reflux illness and increase in healthcare expenditure considerably contribute toward the market growth. However, increase in consumption of supplementary food products and availability of alternative therapies for gastrointestinal diseases negatively impact the market growth. In addition, economic growth in emerging markets offers lucrative opportunities for growth of the market.

Coronavirus (COVID-19) was discovered in late December in Hubei province of Wuhan city in China. The situation of COVID-19 has varied outcome when related to vaccinations. There is an emerging gap in the economic recovery between high-income and low and middle income countries. After the pandemic severely disrupted global trade, the world is witnessing a robust rebound, which is helping with the recovery in the year 2021. Trade contributes to speeding up economic recovery from the pandemic by providing sustained foreign demand for exports and ensuring the availability of imported intermediate products and services. The COVID-19 pandemic affected the digestive and intestinal remedies industry in a fairly positive way, like various other pharmaceutical industries were effected. According to the data of research study named “COVID-19 and Gastrointestinal Disease: Implications for the Gastroenterologist”, that was published in Digestive Diseases Journal in March 2021, the digestive system may be affected by the SARS-CoV-2 virus, and those with the pre-existing disease are at greatest risk of adverse outcomes. Moreover, according to the research data of American Journal of Physiology named “The mechanism and treatment of gastrointestinal symptoms in patients with COVID-19”, in August 2020, COVID-19 cases with gastrointestinal symptoms are more likely to be complicated by liver injury and acute respiratory distress syndrome (ARDS), if these are not treated in time, coma and circulatory failure may occur.

Overall, the COVID-19 pandemic had a fairly positive impact on the digestive and intestinal remedies industry owing to the increased research and developments activities about the role of gastrointestinal tract in the COVID-19 pandemic. Moreover, increasing prevalence of some gastrointestinal diseases also helped the market to boost the growth amidst the pandemic situation.

By type, the digestive and intestinal remedies market is segmented into digestive medicines and gastrointestinal agents & remedies. The gastrointestinal agents & remedies segment is expected to dominate the market during the forecast period, owing to increase in use of gastrointestinal agents such as antacids protectives and adsorbents. Moreover, the digestive medicines segment is expected to register a CAGR of 4.6% during the forecast period, owing to the trends such as new product launches and various product approvals by market players.

By age group, the digestive and intestinal remedies market is segmented into pediatric and adult. The adult segment is expected to dominate the market during the forecast period, owing to increase in prevalence of gastrointestinal diseases among the adult population and rise in geriatric population. Moreover, the adult segment is also expected to register a CAGR of 3.7% during the forecast period, owing to the rise in incidences of gastrointestinal problems among adults for which over-the-counter drugs can be used.

By distribution channel, the digestive and intestinal remedies market is segmented into online and offline. The offline segment is expected to dominate the market during the forecast period, owing to increase in number of offline pharmacy stores available for gastrointestinal medicines. Moreover, the online segment is expected to register a CAGR of 4.4% during the forecast period, owing to surge in preference of online platforms for gastrointestinal drugs.

Europe accounted for the largest digestive and intestinal remedies market share of revenue in 2021, and is anticipated to maintain its dominance from 2021 to 2031, owing to presence of large patient population, strong presence of key players, ease of drug availability, well developed healthcare infrastructure, higher number of research, development, & innovation activities, and higher adoption of advanced therapeutics. However, Asia-Pacific is expected to grow at the highest CAGR of 4.6%, owing to the digestive and intestinal remedies market trends like increase in number of target population and rise in awareness related to different gastrointestinal disorders. In addition, increase in healthcare expenditure offers a lucrative opportunity for the growth of digestive and intestinal remedies market size.

KEY FINDINGS OF STUDY

• By type, the gastrointestinal agents & remedies segment accounted for major share of the digestive and intestinal remedies market in 2021.
• By age group, the adult segment is anticipated to grow with the highest CAGR during the forecast period.
• By distribution channel, the offline segment occupied major share of the digestive and intestinal remedies market in 2021.
• By region, Asia-Pacific is anticipated to grow at the highest rate during the forecast period, followed by LAMEA as per the digestive and intestinal remedies market analysis.